Stairpay funding news – London-based Stairpay Raises £750k in Pre-Seed Funding

Along with social entrepreneurs Places for People and Clarion, a top housing association, the business has teamed with Share to Buy, the biggest shared ownership property platform.

The firm has worked with prominent housing association Clarion and social organisation Places for People. Currently, the startup is focused on automating staircasing, which is the process of progressively progressing towards 100% home ownership.

Additionally, in order to enable the automatic listing of shared ownership homes for sale, the company has teamed with Share to Buy, the largest property portal for shared ownership. These collaborations will make use of Stairpay's data-driven insights to improve and streamline the shared ownership experience for homeowners who use the part-buy, part-rent program intended to lower housing costs.

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A supply gap has also been brought about by the Help to Buy program's termination in 2022, which made it possible to buy over 390,000 newly constructed homes. As a result, last year saw a 10-year low of 293,000 first-time buyers, underscoring the need for creative solutions.

By automating every step of the shared ownership process for homeowners and housing associations, from the initial purchase to staircasing and resale, Stairpay's platform solves these issues. With the app, residents can handle every aspect of their shared ownership experience, doing away with the need to deal with numerous advisers and complicated paperwork.

Additionally, Stairpay gathers vital information that housing organisations can use to better understand their tenants and enhance their shared ownership programs. Strong resident interaction with the app and the generation of £1.58 million worth of new staircasing instructions were the results of a successful two-month experiment with Clarion.

Floris ten Nijenhuis, Founder of Stairpay said: “Stairpay was born out of the desire to solve the challenges faced by first-time buyers looking to get onto the property ladder. The UK has the largest shared ownership market globally, but has challenges to address. Our partnerships with Places for People, Clarion and Share to Buy signify the collective intent to apply a data-driven approach to significantly improve the shared ownership experience for both residents, housing associations and other stakeholders which will see more people realise their dream of full home ownership. Shared Ownership has also become an increasingly popular asset class, attracting significant investment from the likes of Blackstone, Legal & General and M&G. Our technology provides data and insights to make Shared Ownership an even more attractive asset class by determining who it works for.”

Mike Stevenson, Principal at Fuel Ventures said: “The shared ownership market in the UK is currently facing significant challenges and the results of Stairpay’s pilot with Clarion Housing has demonstrated the potential of innovative solutions to address them. By leveraging data, the platform simplifies and enhances the shared ownership experience for both housing associations and residents. We are excited to support Floris and the team in their mission to help more people achieve their dream of owning a home.”

About Stairpay 

Automated Shared Ownership, stairpay. By automating staircasing and consolidating suppliers, lawyers, brokers, and homeowners onto a single platform, they assist Housing Associations in achieving success with Shared Ownership. Their platform was developed with extensive input from both the largest Registered Providers and Shared Owners, making it completely customised for shared ownership.